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Search Results 0 to 49 of about 714 (some duplicates have been removed)
been running up on the notion that this is the best straw that we have. and ben bernanke is the best guide we have in monetary policy is the best option we have. ben bernanke does appear to be the only guy getting something done. the president doesn't seem to be engaged. congress can't get its act together. we go back to the sky. that's what concerns me. we will get a fair and balanced debate with senator phil gramm. senator, i guess that is what troubles me. not so much that i love romance as much as the next guy. what is prompting this? what you say? >> well, first of all, you have to remember that everything that is doing now is going to have to reverse when the economy ultimately starts to grow. for example, this new action, one shilling and a half of government debt. it will monetize the debt ridden when it sells that trillion and a half dollars, interest rates will rise substantially. the federal deficit will go up. every 1% rise in interest rates will cost $100 billion. mortgage-backed securities, when they are sold as they have to be when the economy starts to recover, the mo
, because ben bernanke's going to print 85 billion dollars a month for the rest of the year and he won't quit for a long time. he needs to. we just received very negative news on the state of the economy. and yes, he is printing and because he's printing, stocks are at a five year high and the gains will continue today. but he is facing criticism. america takes an inflation hit, as wall street rakes in the money. the mideast is a factor, the protest now seems to be spreading to any symbol of the west. lebanese protesters torched a k.f.c. restaurants and sudanese stormed the embassy and the the british embassy as well. still tense in egypt, but fox news has reported the big dem separations called off in cairo and oil close to $100 a barrel and the iphone is selling out and expensive crude still sells, doesn't it? "varney & company" is about to begin. >> friday, september 14th, perhaps the biggest result of the fed's decision to print, oil. back at the key $100 per barrel level. there's breaking news out that reflects how weak this economy is. and august production down 1.2% and that is
builders doing well. bringing on wall street. the ben bernanke bounce continues. a lot of people thought there might be sell-offs and people taking a profit on what happened with the ben bernanke bounds. the bouncing ball continues. we will see what happens over the weekend but all the indices higher and didn't get the bump it did yesterday but the fact that there was confidence above 50 on the dow 50 points to not the same percentage, on the s&p and nasdaq. almost a full percentage point, doing extremely well and small and midsize cats as well. the largest gainer of all these indexes, small and mid-size cavs. when the bells ring that is what action begins. we have a full pack our. reagan budget director david stockman will tell us why he is on warpath against the fed and starting to question whether capitalism itself can survive post ben bernanke. four years since the collapse of lehman brothers. you have somebody who says he found the next lehman brothers and you worked here when it was spiraling down. larry mcdonald coming up. we will tell you what drove the markets with the data down
-year high after fed chairman ben bernanke announced a new round of so-called quantitative easing, its third since the financial crisis began. so, we're going to turn to our monetary expert mary o'grady explain briefly what ben bernanke proposed to do? >> ben bernanke is trying to stimulate the u.s. economy. and in qe3, what he will do is create money and use that money to buy mortgage-backed securities. >> paul: what is it supposed to accomplish? >> the goal is to push down long-term interest rates and by that he thinks that people who have-- investors who would otherwise be buying bonds and capturing a higher interest rate will say, oh, there's no return there, i'm going look for something that gives me a higher return and hoping they will employ that capital in a real economy and that will stimulate growth. >> okay, so, third time the charm here, dan? he tried it twice and might have worked arguably the first time to get us out of the panic, the second time not much obviously. but what about this time? >> what reason is there to believe it would happen this time? >> he said this time it's
doesn't. gerri: i want to talk about ben bernanke and the fed. listen to this from ben bernanke. >> to fiscal cliff isn't addressed, don't think our tools are strong enough to offset the effects of a major fiscal shock so it is really important for the fiscal policymakers to work together to find a solution for that. gerri: what do you make of the fed's move? it struck me as overreaching in the extreme especially when he himself says we really don't have the tools to deal with unemployment. >> i think he means we the fed. we reduce the increase in government spending a little bit with the sequester. that is a good thing for the economy. you'd are you high you allocate reductions in the increase but that is helpful to the economy. the other is a massive tax increase of $500 billion over the next year. $100 billion in increased spending and they panic. talking raising taxes 500 le in dollars next year and for the next 10 years. that is very damaging for the economy, we should not confuse spending reduction with tax increases, the alternative minimum tax cuts, 4 million families, 3
with a 20% prime. it in effect, ben bernanke and the fed promised to buy mortgages until the cow comes home and when do cows come home? in this case, in the early evening when the economy is generating enough jobs to lower unemployment. perhaps to 7% or lower. so until then, the fed will buy 40 billion of mortgages a month and maintain short rates close to zero and hope to rejuvenate the economy via lower mortgage rates and higher home prices. >> now, of course, the market's loved it. you know, the stock market soared as soon as we heard the news on thursday. another big rally on friday. but what is the effectiveness of this? how do you see this working and actually moving the needle in terms of job creation, in terms of economic growth, bill? >> increasingly ineffective. this will be qe3. we've had 1, it began in november of 2008 and qe2, then the twist. increasing increasingly, these programs have been less and less effective because the price of money or the interest rate on that money has been so close to zero that it makes little, if any, difference. >> federal reserve chairman ben ber
would agree today is a ben bernanke rally. a number of them on wall street. particularly since quantitative easing began. the biggest day in quantitative easing since it all began. let's look at how the stocks are finishing up. the dow is up 1.5 points. all the stocks are between 1-1/4 and little bit over to the plus side. the s&p gaining the most percentagewise. look at this. the s&p had 1460. this is an s&p that is up tremendously since those lows in june and the nasdaq picked up nicely. we talked about apple small and midsize stocks also, the russell 2,000 represented up 1.3%. when the bell rings the action begins. we have a pact hour. representative ron paul. we will talk about today's fed decision and the situation in the middle east which he would like to defunded the lot of people with him. legendary tv and radio star larry king is with us after attending every political conventions 1964, interviewed all these guys. what does he make of the current crop of political candidates? first we tell you what drove the markets with today's data download. stocks soaring after the
on a job that ben bernanke says he created. does it add up? plus obama revealed. we have an exclusive cnn documentary about the president and new details about his personal life. >>> and update on the "outfront" investigation of federal employees who are paid to work from home and get to travel across the country on the taxpayer dimes and we have been trying for months to find out how much it is costing us, and tonight, an answer. tonight, an answer. let's go "outfront." -- captions by vitac -- www.vitac.com >>> well, good evening, everyone, i'm erin burnett, an outfront tonight, $1 million per job, that is what america's top money man says we have spent on stimulus from the fed alone. and he says that that is money well spent and he may spend more. today, ben bernanke was in jackson hole, wyoming, a bucolic location for a big speech, and he defended the action else to hp the u.s. e copmy and with good reason, because the fed chairman appointed by george w. bush and embraced by president obama and criticized by some influential people including mitt romney has a little bit of an image pro
mandate does ben bernanke choose? >> yeah, that's something rick santelli has been talking about today. what are you expecting next week, rick? >> i think from a data side, i always enjoy when we get a couple housing numbers, existing home sales, starts. that's going to be good. i also want to see how the market digests what happened yesterday with the fed and what is ongoing with regard to europe. i haven't been or wouldn't think that we'd see a big correction in stocks. although, i'll tell you by the behavior today, i'd be a little more cautious. feds and central banks around the world have always tried to leave their imprint on interest rates. i find it fascinating that the market, despite all the ownership that the fed has in terms of inventory of treasuries, for example, to see rates move up as much as they are, knowing how many out there are still long makes me a bit nervous that this could gain momentum to the up side. i don't know if 2% is going to be challenged, but i think based whoon i hear from investors, should it get above 2%, you're going to bring in a whole lot more sel
. >> thank you, ben bernanke. >> and thank you our church counterfeiter timothy geithner. the dollar was getting stronger because of confidence in our commempt and that's not what it is doing now and the dollar plummeted. >> do more regulations give people more confidence over less in the u.s. economy? >> rich was exactly right it is less. business growth comes down to a single risky decision . it can defend on how hard it is. what are the factors? and going back to a study for an instance. the one that rich cited with the world economic forum study is the most depaming. we slipped from first place to fifth place. you read why. it is because we ranked fifthth in terms of americans trusting their government and it will be arms length from business. those are 50th. come on, it is the united states of america. these studies are worth talking about. >> steve, i used to cover latin america it has more laws and regulations than any region that i know of and more law breakers. more laws and regulations sometimes they contradict each other and you have to be a law breaker. that is not good f
longer than previously planned. ben bernanke says he is ready to try other measures if hiring doesn't pick up, so you're talking about a full court press here. here he is speaking to the financial press yesterday. >> the employment situation, however, remains a grave concern. while the economy appears to be on a path of moderate recovery, it isn't growing fast enough to make significant progress reducing unemployment rate. you fewer than half of the 8 million jobs lost in the recession have been restored. and at 8.1%, the unemployment rate is nearly unchanged since the beginning of the year and is well above normal levels. >> we will talk about the fed this morning, ask what's next if anything, ask if any of these measures are actually going to work to bring down unemployment and of course we'll be looking for where you should be putting your money. among our newsmakers this morning, former fed governor kevin warsh will be our guest host at 7:00. plus as joe mentioned, europes also playing a major role. michelle caruso-cabrera sat down with jean claude trichet earl i didn't this mor
the wall street journal, this was a big fat campaign contribution to mr. barack obama by ben bernanke and boy, did he try and separate himself from the politics of this and talked about it in a press conference this past week saying it's only about the economy, but you look at how that market reacted the day of this announcement. >> neil: oh, sure. >> the federal reserve could have waited, as well-telegraphed as this has been changed the date that interest rates would stay at zero, not done anything else, waited until after the november elections, but he decided not to and hallelujah. >> neil: and mitt romney's made clear he would not replace ben bernanke with ben bernanke. he wants someone else. and he said this throughout the primary campaign. the president has been very supportive of bernanke. and i'm just wondering whether it's bernanke's way of saying, i remember what you said, governor, and remember what you've done, mr. president. >> i would just say this to dagen and people who think it's political. have you seen the recent economic statistics and-- >> it's not political ands'
talk from ben bernanke today that the federal reserve is ready to act to boost the economy. >> susie: i'm susie gharib. investors around the globe welcome the fed chairman's speech with a spirited rally. >> tom: planes, trains and automobiles. 33 million americans are heading out for the holiday. the travel outlook for labor day and beyond. >> susie: that and more tonight on n.b.r.! >> susie: ben bernanke made a strong case today that the u.s. economy needs more stimulus and he's ready to give it another dose to boost growth. his message was clear and delivered with conviction. investors around the world had been waiting eagerly to hear the fed chairman's speech in jackson hole wyoming and stocks in the u.s. rallied in reaction. here are the highlights: bernanke said even though the economy has benefited from fed policies over the past few years. the outlook is still quote "far from satisfactory." he described the high unemployment rate a grave concern. he believes the fed should continue using non-traditional policies to spur growth. and bernanke concluded by saying the fed will provid
agency citing that ben bernanke's quantitative easing will hurt the american economy, reduce the value of the dollar and lower our credit quality. we're going to come right back with that. but folks, $500 billion and nearly so of new fed money, it's already spurred a 4% stock rally over the past two weeks just on the rumor. 287 points up this week alone. markets closed up today. now, even though i disagree with bernanke, i'm going to show you how $500 billion will help the market, at least in the short run. plus, if ben bernanke thinks the economy is so bad that he had to act so quickly and dramatically, then the question becomes can mitt romney walk through the bad economy door that mr. bernanke has now opened? we'll get to that later in the show. now, let's turn back to our other breaking news story of the night. the u.s. downgraded by rating agency egan-jones. they say qe-3 is the reason for the downgrade. now, since bernanke pulled the trigger on qe-3, markets have gained almost 300 points. the achilles' heel in all this? king dollar. that's what egan-jones talked about. we'll get
of companies still have very competitive yields versus the money market funds which are nowhere. ben bernanke said if you don't have a job, you can't save. he is working for the unemployed. that's his goal right now. is to get those people -- >> he's sticking it retirees. >> we've been sticking it to them now since the crisis began. we were at 5.5% before the fed crisis on the fed funds. we've been 0% for a long time. what about housing? i'm sure the stocks were up. >> they were unbelievable. >> they're talking they'll now take 55% of the growth on mortgage backed securities. talking synchronized accommodation here. >> that's bank of america. remember when you go to buy a house, you have to low price with money but the banks don't want to give you a mortgage. i know because i'm in there. it's harder to get money. >> they only want to give you a mortgage if you don't actually need one. >> they want to give you this appraisal nonsense. >> maybe it will actually work. maybe it will take the rates down even lower on the 30-year. it's already pretty darn low nationwide. is it going to matter? is i
will have her -- never have a recovery as long as this. we are all anticipating ben bernanke to come out to save the economy and coming down from mt. sinai to keep interest rates at zero for how much longer and how much print he is going to buy. that is not a real economy. this is a huge bubble and paul ben bernanke is doing is thinking about politics because it is all political. trying to delay the day of reckoning. he doesn't care how much damage he inflicts on the economy. the more he takes interest rates down the bigger the -- that is why we are not recovering. look at the data. household income falling more during the recovery than during the recession. how can this be a recovery? is not a recovery. it is a depression and it will continue to be a depression until the fed gets out of the way. we are going to get more gasoline on the fire today most likely and it will ignite the gold market, commodities, watch the foreign-exchange market. the gold market and maybe we will get a sell-off in bonds if the fed announces open-ended q e 3. maybe bond traders realized the worst thing for the
low until unemployment goes down. fed chairman ben bernanke said the economic recovery especially in the u.s. job market is stuck. >> this is a main street policy because what we're about here is trying to get jobs going, we're trying to create more employment. >> reporter: specifically the fed will buy $40 billion worth of mortgage bonds every month. the idea being to drive mortgage rates even lower than their historic lows now. bernanke says if it works the plan should increase home buying, help the stock market and drive up consumer spending. >> if people feel their financial situation is better because their 401(k) looks better, their house is worth more, they are more willing to go out and spend and that will provide the demand that firms need in order to hire and invest. >> reporter: while wall street loved the announcement the fed's open ended commitment to keep interest rates low has a down side. it could hurt retirees living on fixed incomes and anyone invested in savings accounts or money market funds. republican nominee mitt romney who has already promised to fire ben b
. >> a major announcement out of the u.s. -- federal reserve chairman ben bernanke says the u.s. government is ready to act to stimulate the economy if needed. >> in a speech to central bankers in wyoming, bernanke said he was gravely concerned about the stagnating labor market. the u.s. economy is so weak that it is hardly creating any jobs. the fed's next policy meeting is september 1 analysts expect a decision on a third round of quantitative easing. those statements from ben bernanke and the prospect of further quantitative easing in the u.s. put investors into a positive mood on the last day of the trading week. our markets correspondence has more. he sends us this report from the frankfurt stock exchange. >> the doors for more quantitative easing in the united states remain open. this is what the market mix of the statements of ben bernanke, the fed chairman, in jackson hole, wyoming. his speech caused the stock market in frankfurt to end this last trading day of the week on the upside. the euro also was again up on statements by the french ecb director, fuelling speculation that next
day with ben bernanke and him pumping more money into this economy is a sign that he thinks capitalism doesn't work. that's wrong 'cause apple is going to make a difference. people are going to keep buying these products. and ben bernanke is going to continue to deflate our dollar. >> cheryl: sally, what we need is more apples, then, we need more companies. >> yeah. there is a sort of built in paradox to what jonathan and tracy said. clearly apple is succeed not guilty this market and in this economy and in this moment in the united states. and yet, for some reason, other companies can't do it. there is a little bit of a look, if they can do it, then other companies can and if they're not, there is other reasons than just the government enabling environment. the other reality is apple has been an american success story and on the other hand, the ex tents may be hurting innovation because it's so hard to get into the economy right now. but whatever, they're still a half percent of my only personal gdp expenditures at home. >> cheryl: wayne, is it kind of a sad state of affairs when you
as bad as gasoline prices but food prices are rising and ben bernanke destroys the dollar with his new pump pricing policy we'll see food prices rising more. finally home prices. now most of the bad home price decline did occur before obama was inaugurated. i'll give him that. however, we're still down quite a bit from where it was, let's see it's off 11.5%, not the worst thing, total decline is about 35%. my point is this. we look at a lot of indicators, we talk about employment, unemployment, what have you. what about gasoline price, food prices and what about housing prices? could they determine the election? let's bring in our distinguished guest, economics professor chicago school of business and former chairman of the council of economic advisors under president obama. and former director of the congressional budget office under president bush. all right. i'm going to give my pal austin the first whack at this. mostly gasoline prices. food is a little bit of a problem. housing remains a rob. mostly gasoline. how much is the president going to pay politically for this austin? >> y
&t. >> stocks soared to a four-year high after fed chairman ben bernanke announced a new round of so-called quantitative easing, its third since the financial crisis began. so, we're going to turn to our monetary expert mary o'grady explain briefly what ben bernanke proposed to do? >> ben bernanke is trying to stimulate the u.s. economy. and in qe3, what he will do is create money and use that money to buy mortgage-backed securities. >> paul: what is it supposed to accomplish? >> the goal is to push down long-term interest rates and by that he thinks that people who have-- investors who would otherwise be buying bonds and capturing a higher interest rate will say, oh, there's no return there, i'm going look for something that gives me a higher return and hoping they will employ that capital in a real economy and that will stimulate growth. >> okay, so, third time the charm here, dan? he tried it twice and might have worked arguably the first time to get us out of the panic, the second time not much obviously. but what about this time? >> what reason is there to believe it would happe
, it was the news investors wanted to hear about will the announcement forum ben bernanke help the economy. i will break it down next. plus, we have another panel of experts to give us their take. don't go away. [ male announcer ] wouldn't it be nice if there was an easier, less expensive option than a traditional lawyer? at legalzoom you get personalized services for your family and your business that's 100% guaranteed. so go to legalzoom.com today for personalized, affordable legal protection. gerri: to paraphrase ronald reagan, there they go again. the federal reserve finding another way to boost the economy, by doing everything that it has in its power. $40 billion in mortgage-backed securities purchased every single month. market players were not surprised, they were astonished. stocks went down and as players absorbed the news, silver spiked and so did treasury yields. it was confusing at best. here is what the fed has done so far. ten rate cuts started on september 18, and repeated rounds, promising to keep rates low. a comically complicated operation twice. ben bernanke has said his e
more. today ben bernanke was in jacksonville, wyoming. a bucolic location for a big speech. he defended his actions to help the u.s. economy. the fed chairman appointed by george w. bush, embraced by president obama, criticized by some influential people, including mitt romney, has a little bit of an image problem now. as president romney for example ben bernanke would lose his job. >> my view has been i would want to select someone who was a new member -- excuse me, a new person to that chairman's position, someone who shared my economic views. >> romney's running mate, budget hawk paul ryan, is not a fan either because ryan chided the chairman during a hill hearing earlier this year. >> a lot of us believe the federal reserve was too loose for too long in the 2003 to 2005 period and that's what in part led to the asset bubble and the malinvestment that occurred. i know you don't agree with that. because you don't agree with that, our fear is you're just going to repeat these same mistakes again but by orders of magnitude we don't even comprehend now. >> paul ryan is right about one th
tonight. patience pays-- stocks soar as ben bernanke and the federal reserve launch a new round of stimulus to boost the economy. but will that strategy, known as q.e.-3, work? we ask former fed governor randall kroszner. that and more tonight on nbr! the federal reserve announced today a bold plan to spend billions of dollars to buy bonds to rev up the u.s. economy and create more jobs. on wall street, investors applauded the move and stocks surged. as policymakers wrapped up a two-day meeting, they said they took this action because, without it, economic growth might not be strong enough to create jobs. but the fed's latest round of quantitative easing, what everyone calls q.e.-3, is different this time. the fed will buy mortgage backed securities rather than u.s. treasuries. it will buy $40 billion per month. more importantly, the fed said the buying is open-ended-- it promised to keep buying until the job market "improves substantially." and the fed pledged to keep interest rates "exceptionally low" through 2015. stocks rallied right after the fed announcement. the dow jumpe
but domestically as well. ben bernanke trying to do with the president has not been able to. to revive a struggling economy and create jobs. we are taking all that up here tonight. we will be talking with some of the foremost economic thinkers in the country. austan goolsbee. billionaire publisher, real estate mogul, issue number one remains the economy. federal reserve chairman ben bernanke reminding us all of that. today, doing all he could to revive this economy. the fed announcing an aggressive new round of stimulus buying mortgage-backed securities every month until the outlook for jobs improves substantially. it also extended its pledge of interest rates through mid-2015. the fed chairman saying the new stimulus will support recovery, but it's certainly not a cure for high unemployment in itself. austin, what is your reaction. extraordinarily, an aggressive move by chairman ben bernanke. >> i have two reactions. the first reaction is, we should be at the fed trying to figure out how to lose the monetary policy. five or 10 years ago, connie would have unemployment above 8% inflation well below
Search Results 0 to 49 of about 714 (some duplicates have been removed)